AGTech prevails in multiple lottery hardware bids to bolster terminal offering

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AGTech GOT, a wholly-owned subsidiary of AGTech Holdings Limited, has won multiple sports lottery terminal procurement bidding projects in China.

The Hong Kong-based lottery, games and entertainment technology firm has been successful in seven provinces/autonomous regions; Hubei, Hainan, Jiangsu, Yunnan, Sichuan (all provinces), Guangxi Zhuang and Mongolia (both autonomous regions).

In its correspondence of the news, AGTech claimed the successful bids reaffirms the hardware division’s ‘continued dedication to and leading position in China’s sports lottery terminal market, demonstrating the continued effort and competitiveness of AGTech’s lottery terminals’.

The company further pledged to ‘enhance product innovation, ensure safety and R&D compliance, and contribute to the overall healthy development of China’s lottery market’.

This latest announcement follows the news earlier this year that its lottery sales had been a significant factor in the rise of its revenue in the first quarter.

In May, AGTech reported a 70.2% increase in revenue for Q1 of FY2022, with sales of its lottery hardware proving crucial.

Lottery sales amounted to RMB86.3bn, an increase of 2% over the same period last year.

Lottery hardware sales also proved vital in FY2021, where the company posted a revenue increase of 56.7% from the previous year.